Patrizia will invest up to 500 million in Portugal and Spain next year

  • ECO News
  • 18 November 2019

Real estate investment company Patrizia wants to invest up to 500 million euros in Portugal and Spain next year. This announcement comes after buying a block in Lisbon.

The German real estate investment company Patrizia has available between 300 and 500 million euros to invest in Portugal and Spain already next year. According to Expansión newspaper (content in Spanish), the intentions are to maintain this pace of investment over the next three years. The focus will be on the office, residential and logistics markets.

“Our plans are not simply to grow, but to generate the greatest possible value for our investors,” said Eduardo de Rosa, Patrizia’s new general director in the Iberian market.

“The segments in which we expect to focus in the coming months will be offices, residential and logistics, without ruling out other types of assets if they appear as potential opportunities,” he continued.

The company’s portfolio, which purchases assets on behalf of investment funds, consists essentially of retail (29%), office (27%), logistics (19%), residential (12%) and hotel (12%) assets. In the last 12 months, Patrizia invested 310 million euros in the Iberian Peninsula, in a total of 30 properties.

Within this investment stands out the purchase of a block at Cais do Sodré, which bought in July for about 28 million euros. The property will be transformed into a four- to five-star hotel with more than 100 rooms.